How To Create Value Proposition For Digital Channels
None of the previous channels would be relevant in a digital marketing strategy without a strong message delivered to the audience in a consistent, unique, and resonating manner. Building a brand voice and message for any of the buyers’ journey stage requires research on your own product/brand and how it solves for the customer. The customer has a problem he or she is trying to solve, so how is your product relevant to their need and how is it different from your competitors? This is a question you can start with to develop what is called a value proposition.
By definition, a value proposition is as innovation, service, or feature intended to make a company or product attractive to customers, giving them a selling point that sets them apart from others within their market/industry.
After audience research, finding your value proposition is the second most important part of planning as it will drive your entire message, creative, and promise made to the customer. Forbes define 4 steps to building a compelling value proposition:
1.Define the problem: By stating the problem you ensure that it actually exists, what its origin is and how it can be avoided. You can also discover how important it is for the consumer to solve it. Defining a precise problem will ensure that the value proposition will be relevant.
2.Evaluate your uniqueness: Now that you have defined the issue, consider how your product solves it, and why it solves it in a unique manner. What is the innovation that you bring to the market that makes your product stand out as being faster, cheaper or just better quality?
3.Measure potential adoption: Once you have identified the problem and how uniquely your brand can solve it for the customer, you need to assess the potential market size that will be interested in your solution.
4.Build the value proposition: Lastly you want to write down the value proposition in a way that will answer the following questions: for who is your product? What is the current alternative? What is your product? What does it solve? Why does it solve better?
A value proposition should read fluidly and be precise providing as much context as possible and proving the actual value of your product. It is the core of your competitive advantage. Here are some examples of value propositions for successful products:
- Apple MacBook: Light. Years ahead.
- Vimeo: Make life worth watching.
- Pinterest: A few (million) of your favourite things.
- Salesforce: Accenture moves faster with Salesforce Lightning.
- HubSpot: Stop interrupting. Start connecting.
- Skype: Skype keeps the world talking, for free. Share, message and call – now with group video on mobile and tablet too.
Spotify: Soundtrack your life.
I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you can drop your comment. Thanks in anticipation.
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